OIL CITY, La., Sept. 27, 2010 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) announced today that the Board of Directors has accepted Mr. Scott D. Smith's resignation as Chairman and CEO of Black Dragon Resource Companies Inc. Scott D. Smith has moved on to pursue other opportunities at this time and the company wishes him well in his endeavors.
As President, Mr. Neely is taking a very small salary and has cut administrative overhead by $17,000.00 per month. Mr. Neely has been Corporate Secretary of Black Dragon since 2004 and is very familiar with company procedures and operations. According to Tom Neely, President of Black Dragon, "The company has a lot of deals in their final stages of closing and the Board felt it best to keep things tight. I expect a good 3rd quarter from the company but expect the 4th quarter to be very impressive to shareholders."
Forward-Looking Statements - Safe Harbor:
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
By Staff